Gordon Brothers, a global advisory, restructuring and investment firm, has provided Everlane a $25 million term loan that’s secured by the sustainable apparel, accessories and footwear retailer’s digitally native brand and working capital assets.
Everlane will use the loan to support over a decade of continued growth.
“We have admired Everlane since its founding and understand the significant brand value the company has built,” Tobias Nanda, president, brands at Gordon Brothers, said. “So, when presented with the opportunity to work with the team and Everlane’s sponsor, we immediately saw how our multi-asset approach to lending could be a perfect fit for all parties.”
“Gordon Brothers’ flexible approach will help build a better capitalized business that matches the strength of Everlane’s underlying brand,” Bill Wafford, CFO of Everlane, said. “Everlane is poised for continued expansion as it resonates with an increasing number of consumers who are making active decisions around the effect of their purchases — and want to look great while doing so!”
